and i would meet, like, latino chinese, and french chinese, and mauritian chinese, and indian chinese. indian chinese, totally weird, right? they look like me, but they speak hindi, and they wear, you know... or multiple dialects, because we're in india. and they have gold chains, and they sort of move like, you know, in, like... you know, south asians. and you'll go to peru, where they've had, you know, a 150-year history of chinese immigration there. >> hinojosa: and great chinese food. >> and great chinese food. >> hinojosa: the best. >> and they have chinese men who can dance, like, salsa, merengue. and i was like, "wow, i've never seen such elastic hips on, like, an asian guy before," right? it's so fascinating. >> hinojosa: so what do you want... what do you want us to take away from this, jennifer? >> i think that first of all, this idea of authenticity, of being, like, true, is sort of an artifact. like, what does it mean to be authentically chinese, right? because i, in a certain way, am authentically chinese american in a way that general gau's chicken, you know, is not auth

chinese are frustrated, you know, name a chinese car. volkswagon. but -- they have keeping the volvo name. i know they can't really create a good brand and sell ye. the logo is italian but they did buy the idea. so it is not like the japanese wave in the '80s where they just buy stuff and hope it works out. they are more strategic. but crazy things are happening. two weeks ago the owner of the historia hotel was bought. there is also the sense among chinese entrepreneurs that they need to keep talent and brands. club med is the largest insurance company in portugal and the chairman went missing for a couple days and we don't know why still. so it is interesting. if china, like this is everything i heard about. the relationship between the government and private sector and companies. if china takes relations with the rest of the world, southeast asia, are not great. how does that help alibaba? the chinese government is having friction with the areas because of the maritime issues but alibaba isn't. chapter 13 is the most interesting chapter in the bo

you can find chinese scholar he is they founded into chinese in the nature. so this view from the chinese side is own issues about a known nation state are to relate with each other. therefore, it isn't necessary for them and therefore those nation states to be related through practice. it is not necessary in the modern times, china relations with all the based on sovereignty assistance with both china and the united states being part of a large or self it is called chinese -- what does that mean? it is close to a collective identity sense, shared by china and its counterparts because it is always bilateral so china approach attended to be talk bilateral instead of for a multilateral frame work. so that's a nonissue. but anyway you need to assume that, i mean, both china is called apart such as united states enjoy equal labor so southern power in these greater self or collective communities. therefore, the united states tried to interfere with china and sovereignty from the chinese view. that will become free i think to destroy a great or self in turn strong

trained by chinese. they started coming together to collect scientific evidence that showed this one child policy was really leading child on a path of demographic disaster. they found these numbers that showed rates went faster than people thought. they found information on gender imbalance. so they showed evidence that the chinese communist party and they said when the one child policy was conceived was not a mental last forever. originally it had a timeline of 30 years and then we might change it to something else. so they're saying let's do this in and this faster because you achieve whatever results you have and you have these issues moving ahead you should encourage people that more children the communist party dragged its heels. i didn't say yes and so 35, 36 years on the line what made this change. now people say it may be too little too late. >> host: when they started to say that did you agree, did they say look, that's not consistent with the kinds of political language we're using so let's pu

that means according to traditional chinese thinking, scholars to chinese explain this nature, so this ontological view to treat only issues and not nation states are related with each other. therefore, is it necessary for relatedtionstates to be through practice? it is not necessary. in modern times, china's relations with others are based on the sovereignty systems with both china and the united states force.part of a larger is close to a collect give identity. the foreign policy of roach always tends to talk bilaterally. both china and its counterparts such as the united states will labor in this community of things. .hat is a greater self this contrasting haveon relationality created in the u.s. or incongruent situations that -- thereforeside encouraging both countries to believe taking immediate action is generally a preferred policy. let me give you one example. view,ing to the american .he values become internalized it has a duty to impose international rules and the history or neither a that.gness to practice perceivedtions are and must except the responsibility for maintaining

the chinese is going to clear it out. we have consumerist china and it is time for national security day china. i think of it this way. alibaba is dominant in e-commerce today and sometimes has 70-80 percent of the market. the area he has chosen to expand to, the biggest, are finance and media. both of those are sectors where the state plays a very big role. i talked about jack creating this triangle with finance and logistics and e-commerce. ali pay is a currency for digital things in china and essentially for everything. when jack launched a fund saying if you have money in your account you can put it in a fund and we will manage you and pay you 2% more than the state banks. they called it leftover treasury. a hundred billion went into that thing immediately and the banks were scared. they control trillions of yen and never experienced competition. they have been pushing back. if you go the bank, they will say that alibaba company is a startup. the banks are fighting back. same in media. a lot of journalists are quittin

business more chinese women self-made billionaires than anywhere else on earth. 30 million chinese women-run companies. female entrepreneurs. those are really big numbers, and that means something. >> yeah. thank you. questions from the audience. sir. we've got a microphone, here we go. it's on its way to you. >> doug brooks, international stability operations association. i love the logo on the book but, of course, to be more accurate, the gears from india and china would actually be meshed together as well. >> yes. >> you haven't talked at all about the relationship between india and china and how that's evolved over the past three or four decades. >> thank you. it's a very good question, and it's evolved a lot. i think when i was in government a decade ago, the indians were not too worried about china. it was, you know, we have similar histories, the history of being oppressed by outside powers, and china's mostly a partner be, we were trading a lot with them. that's changed. and now when you go to delhi, people worry very much about what's happening with china, and they have, i think, a

chinese spending by chinese tourists.ggregate impact should not be that bad. if it is chinese tourists buying financial assets that doesn't generate demand. saving.erates a global >> that would be capital outflows. >> exactly. you can see demand setting aside the possibility of the u.s. rate hike. in general do not need more rate hike for now. narrative.es the the good surplus would suggest they are getting more of the things they need domestically. the domestic economy is starting to grow which is what they want him a which is what everyone wants. if the tourism numbers are right may be they are getting foreign products and bringing in foreign things through other means. >> that is a possible argument. , you look at is indicators. it doesn't seem to match up any better. in general yes. there is a story about import substitution. for putting that sosa singly. >> the way that that is not so bad for the world is a chinese tourists are spending a lot outside of china. if they are not the positive impact for the rest of the w

. >> that's a typed chinese script.er. >> no, i don't have it. >> so where did it come from? >> very hard for chi to explain. we thought we had him. we really thought he was going to turn and talk to us at that point. but he didn't. he dug his feet in, and it was frustrating. it was frustrating because we knew -- we knew that he knew we had him. we all knew that he was lying, and he just refused to open up. >> when i interviewed chi mak for the second time, with omar lopez, another ncis agent, i'll never forget walking into the jail and chi waved at me. very unusual to see chi mak wave. i really thought the way our interview but that day, he waved and he wanted to talk. so he brought him in and he didn't really have a great plan for how we wanted to talk to chi. we wanted to talk about the technology. and we built repor. >> chi mak wanted to be the smartest man in the room. realized that he wanted to be the professor. and so we, therefore, had to put ourselves into a position of being the student in order to get chi mak

foreign aid with chinese characteristics. environmental law with chinese characteristics. nuclear deals with chinese characteristics. the list of accepted international practices with chinese characteristics is long. it shows that china's exceptionalism lies not in its adherents to principal or law or acception of international behavior, but rather its deflection, it's departure from these. the u.s. policy toward china, i believe has failed spectacularly. china's actions show that it sees us as a strategic competitor. we have chosen to see china as a large market that can be could build, -- cajoled, persuaded, encouraged into joining us as a defender of international security and economic stability. u.s. policymakers hope that the policy of trade between china and the u.s. and the accompanying economic progress from the former would remold chinese rulers to look and think and act more like us. the evidence does not support this hope. historical evidence teaches us the opposite lesson. prior to world war i, britain and germany were major trading partners. this had no discer

the chinese government does only chinese banks. with how muchiar money donald trump host to the chinese government. even if it is half a billion, were he to become president, that could be easily solved one way or the other. i would consider as constituting chinese leverage over a president. host: next in california, on the independent line. caller: good morning. i had to wake up very early to talk to you. i am a businessman that, well, retired businessman that was an executive with a watch company that did a lot of business in china. we went 80 every two years back and forth, the difference is right now in china and ten yar ears ago are so vast, it is startling. the way that it was before, and you might agree or disagree, i never dealt with the government, only large companies. these people were very well knowledgeable on what americans wanted. lovedlly, their -- they america as much as americans did. the last donald trump, trip that we took was about six months ago. these people had a different attitude. are really, i think they

more chinese women self-made billionaires than anywhere else on earth. 30 million chinese women run companies female entrepreneurs. those are really big numbers and that means something. >> thank you. questions from the audience? we have a microphone. here we go. a boom mic is on its way to you. >> international stable operations association. i love the logo on the book but, of course, to be more accurate, big ears from india and china would actually be mashed together as well. you have a talk at all about the relationship between india and china and have evolved over the past three or four decades. >> it's a good question and it has evolved a lot i think when i was in government a decade ago, the indians were not too worried about china. it was we have similar histories, the history of being oppressed by outside powers and china is most at power. where trading a lot within. that's changed. and now when you go to delhi, people award very much about what's happening with china and that i think a very similar to to china than what you see in the u.s. we want a positive relationship. you want a

chinese society has also undergone rapid development. there's a disparity in thinking between the younger generations and their parents. many young people want places where they can build emotional bonds. >> reporter: a generation of young chinese is increasingly turning away from traditional thinking and learning. many are seeking richer lives in spaces that give them a newfound sense of freedom. reporting for nhk world from beijing. >>> many people across japan will be heading out this weekend to kick off their summer holidays, but a big concern is the heat and humidity. meteorologist robert speta tells us what we can expect up ahead. >>> yeah, that actually is going to be one of the biggest concerns this coming weekend across much of the korean peninsula and japan. you have the summer holidays. many people will be out and about and people will be spending plenty of time outdoors. but i do want to really stress that the temperatures are going to be up there to almost a dangerous area here especially across western locations of japan to

anywhere on earth. 30 billion chinese women run the company's. and that means something. >> questions from the audience. >> i love the logo but to be more accurate maybe to be meshed together the relationship between india and china? >> that is a very good question the indians were not too worried. the history of being oppressed by outside powers that has changed and now and we want to a positive relationship. india has the name -- the same trade imbalances the we're getting increasingly worried there are skirmishes there are those throwing punches on each other there are more and more worried about the number of chinese setter built around the referral their neighborhood that are increasingly active in the indian ocean is a huge turnaround. >> >> i would like to hear about the of population growth and by the end of the century. i have seen similar figures for japan. that has been a lot of debt that is burdened some to talk about nonperforming loans with articles on defaults. success starts to unwind that people would be thrown out of work so whe

i want to clearly and directly convey japan's position to the chinese side. >> but a chinese foreign ministry spokesperson downplayed the significance of the proposed one on one meeting. >> translator: foreign minister wang yi's visit is just to attend the multilateral meeting in response to the request from japan's side. so his visit is not related to any bilateral framework with japan. >> during the trilateral meeting the foreign ministers are expected to discuss cooperation in dealing with north korea's ballistic missile launches and completing a free trade agreement. >>> troops from the xwrits and south korea have kicked off their annual joint military drill. north korea has called it a provocation and threatened to respond with nuclear strikes. about 50,000 troops from south korea and around 25,000 from the u.s. will spend two weeks taking part in this year's freedom guardian drill. they'll take part in computer simulations to rehearse how to coordinate their commands if north korea attacks. south korean media say the troops will also rehearse conducting preemptive attacks on no

. >> why are chinese consortiums, chinese investors buying up european clubs? >> it is a bright stage to present yourself. there is a lot of money to be earned, and furthermore, the chinese president is a huge soccer fan. he wants china to host the world cup one day. on that note, chinese are not only by in european clubs but also european players. a very good striker of my favorite team just transferred to china at the prime of his career, 25 years of age, to a league that is barely known, but if your salary triples, it may be worth it. >> thank you very much for your analysis on that. the number of refugees arriving in germany has fallen in recent months, but those still arriving do occasionally encounter hostility. our reporter has been to northeastern germany. >> this was supposed to be a new start t for young refugees fleeg war at home. apartment blocks in the northeastern german city. >> in recent weeks, there have been repeated incidents of abusive behavior and minor scuffles between people who already live here and refugees. when a group of german youth

wise it tougher chinese to buy? just as a mention, the cheaper yuan.ening the most in more than two months. after august of last year, the yuan is weaker by more than 6%. at an apartment with her and if you include the home prices just rising in the u.s. and calculated with the devaluation of the yuan, chinese people would have to spend a million dollars more on that apartment. there may be doing it not as frequently as before, but how else inherent are they? the wealthyally already have their money out, which is another reason that chinese people are not buying as much capital control measures. chinese people can only take up 50,000 u.s. dollars out of china in a year. they use this technique called is sendinghich outsid money outside of china in small amounts. it sounds sort of like drug trafficking even, but that is the reality. authorities are not clamping down on that. chinese people have to send all that money and once and they do it in small amounts. they're very well prepared. one brokerage was telling me the story that he got a call from a cou

very sensitive to the chinese slowdown. they have come off those sessions all over the place in sitting ate aussie, 76.0 and -- .7609. ago,e expecting an hour and we finally just got, shanghai has turned positive. gains of about 3/10 of 1%. elsewhere, australian stocks .0ding up fairly well, up by 9%. strong gains coming in from thailand, gains of 1% there. companies in hong kong having a strong day today. up like 1.25%. meeker, export numbers, or trade numbers out a little later on. that will fill out the picture of what the slowdown story is doing to the region. the nikkei 225, still in the lunch break. we will resume trading in 15 minutes. a strong morning session. on,ne: coming up later europeans need not apply. we will see how he is leaving out the locals. coming up, the trade data from china. khiem do visits bloomberg. ♪ yvonne: a check of the latest headlines, hong kong-based michelin trader this next is hack and a $70 million says clients will lose 36% of their deposit. in compensation, the exchange will offer token

is it as a fan to be in chinese equities? -- save time to be in chinese equities?rket that is not fully open. but it is a market that continues to work towards one we would be more familiar with. you have to, again, understand what you're trying to do and what your time horizons are. if you are in this for the long term you should not have hesitation. scarlet: what changes would investors like to see china a corporate in order for them to feel better about being much more active with investments in china? pat: i'm sure if he got into things including how frequently you can go for retention if you're in some of these quotas, the speed with which you can conduct of the transactions and trades, those would be areas that i think would be helpful to investors. they need to gain some level of comfort that there is indeed a sufficient amount of liquidity and paste in the market. joe: not that long ago there was a lot of anxiety about capital flows coming out of china. it seems like there is still that happening but people don't seem as concerned. from your perspective, as

chinese tourist bought cosmetics, medicine, but less demand for electronics as the quality of chinese improved. back to the markets, how things are panning out in the first few minutes of trading. tokyo looking strong, up by a fifth of 1% after governor kuroda said there could be boj easing in september. the kospi down .25%. the asx 200 flat. the training environment on this monday morning. great to have you. let's first talk about stanley fischer and his comments. you see this paving the way ahead of janet yellen's comments? i think we have to be careful. we have seen a couple of false fedts this year when some members went out and the market is complacent. also, the reaction in the currency markets tells me that they are waiting for janet yellen to make her comments. that shetation here is will not only save that risks have diminished, but make some reference perhaps to an upside risk in the economy. something like that would set the scene for december. yvonne: it seems like markets are pricing in too much dovishness right now. the fed on the other side, maybe being too hawkish. ban

and at that moment, extraordinary numbers of chinese people will exit the workforce, and the chinesece, which has already begun to shrink, will shrink in a vastly accelerated way. and so china's going to face huge retirement costs and social security costs, health care costs, related to this immense aging of the population. >> woodruff: what are the implications for china as a country and for the chinese economy? >> china will have the biggest aging crisis that the world has ever seen, over the next generation, and this happens at a time when chinese ambitions, geo-politically speaking, are expanding. and at some point, these two phenomena will collide, and very tough decisions will have to be made about guns versus canes. how much can we afford to invest in our geopolitical ambitions, versus how much must we invest in terms of supporting our population? >> woodruff: the massive number of baby boomers would not be such a problem if china's younger generations were just as large. but they are not, mainly because of the one-child policy china imposed on all families beginning in 1978.

the best chinese family. and now for many people the concept is one child because we are going to get everything that is best to that one child. >> host: invest in that one. >> guest: that there is economic advantages with having one child. >> host: one thing you looked at which is fascinating is 10-15 years ago people talked about the rise of the little emperors. the one child who had been the object of all the attention from two parents and four grandparents and everybody worried are we going to get a generation of spoiled kids. what happened to the little em emperors? >> guest: they grew up. they are 35 and parents in 60s and grandparents in the 80. and that child is going to have to give back in six fold. they call it the 4-2-1 structure. china has 25% of the world's parkinson's sufferers and similar metrics for dementia and everything else that afflicts old age. can you imagine that little one emperor dealing with that? it isn't even financial issues. we know in the western world how difficult it is to c

users00 million chinese use it every day.nt andir time are the e-commerce platform will integrate right in. jd account.need a you can purchase a product and that will pay. 50% of new users were [indiscernible] >> let's talk about strategy in com relative to other competitors. what makes your strategy better question mark if i were an investor why would i want to invest in your company versus othering else when companies are expanding into other areas? guest: we have the largest online [indiscernible] in china. we have 234 warehouses across china and over 6700 delivery stations. we provide the same day all major cities in china including second day deliveries. 85% of orders last year or delivered within the same day or the second day deliveries. this is a tremendous speed and service is tremendous asset for us and also we are [indiscernible] concern.n area of is a shift in chinese consumers is moving away from price being the primary consideration when going online shopping. and authenticity and service became more important t

the chinese go overseas to buy the real thing. and i will repeat this, i said it last night, i was just with the chancellor telling me a story about christine lagard. she lives here and was walking down the streets in paris and a chinese woman came up to her saying can you come with me? i will give you 200 or 500 your euros. when the chinese go overseas they want to by louis vaton and others. this is what they do. temperature happened to me. you might be able to pay for your ticket to paris. they go up to people on the street i just need your id. i will pay you up front and you will keep whatever it was. the chinese want to buy the real stuff and the westerns want to buy the fake stuff. it is a market. a scrappy market and how alibaba keeps it going was important to understand. it is free. i could sell plastic garbage cans which i might do. but i could sell them for nothing. they might charge something but i don't have to pay alibaba because it is free. of course. forget my plastic garbage merchant. i will probably spend time on a

capital fund,hony at chinese pe firm. the third or fourth quarter this year if regulatory approvals are met. playtika was founded in 2010, and it is based in israel. they are considered a pioneer in free to play games, so if you played slot machine web games, then you have played a playtika game. they are some of the biggest grossing games on apple and google app store. so that begs the question why is caesars letting go? it is straightforward. the company has lost money every 2009-2014, between and revenue slid 45% year on year in 2015 from a $.5 billion to $4.5 billion last year. it also needs to settle eight bankruptcy and filed for its main operating unit, which operates caesars palace. the sale of caesars interactive for $4.4 billion could help in a settlement there, and since the start of 2015, caesars share price has lost more than half of its value. up, sell, sell, sell, the chinese conglomerate trying to raise its status. our chief interview with liang xinjun is next. ♪ , tokyo, a quick check the yen strength con

they breezed past chinese regulators next.is bloomberg. ♪ emily: more news from asia where didi and uber are moving ahead with a planned merger of their china businesses. major deals are often held up by antitrust regulators, a bloomberg reports this multibillion-dollar merger is likely to breeze past the anti-monopoly bureau. peter alstom joins us from tokyo with all the details. why wouldn't regulators try to hold of this deal? peter: it is a good question. the two companies will probably end up with more than 90% of the ride hailing market. there are a couple of factors in china that will probably lead to this deal being approved by regulators. a big part is this industry is so new at this point it is not clear who their competition is going to be. defending on how you define the market you can see lots of competition. one of the things our sources tell us is it is easy to define this market more broadly as transportation in general, in which case there are other companies that provide transportation in addition to didi and

here that is attracting chinese tourists.the industries is benefiting the most from chinese tourism? there is a lot of like you know a lot of like industries benefiting, but the best nowanies, the hotels, but as the trends show that you know most of the tourist visiting, 40% of them are young women in their 30's, so cosmetic cosmeticsand selling in the health care goods are benefiting a lot. rishaad: great talking to you. the chief talking to executive australia's biggest dealmaker. a huge jump in full-year earnings there. ♪ . . ♪ rishaad: monday, august 22. i am rishaad salamat. you are watching "trending business." live in tokyo. mumbai, sydney. oil down after its longest run of gains in four years. iraq intends to boost exports by 5% despite the global glut. china's leading developer and .anker shrugging off control and the fed number two signaling another rate hike remains possible this year, days before janet yellen addresses jackson hole. follow me on twitter. do not forget to use that hashtag as well. straight to the t

what is your take on what is happening with chinese and u.s.t in there? >> i think the chinese smartphone makers are going to have a hard time in the u.s. market for a couple of different reasons. i think, first of all, you need to think about which of these companies is going to be able to aggressively moving to the u.s. xiaomi is using a business model that has historically not worked in the u.s. they are trying to bypass carriers without subsidies. u.s. consumers like to get that subsidy when they sign up for a contract. selling to them directly online has been tried in the past and it never works. in terms of huawei, they have some technology advantages. they jumped to the top of the chinese smartphone market quickly. but the name sets off alarm bells in the u.s. for a variety of reasons, not all of them necessarily well-founded. u.s. carriers are not going to support huawei coming to the u.s. and a big way and give them the subsidies to take market share. when you look at the other players in china, those companies do not have ambitions to

a mixed picture when it comes to the chinese economy.ays chinese growth will be challenged in the second half and beijing may have fiscal policy. serviced look at the data with more interest than we do given the nonmanufacturing economy is bigger than the manufacturing one. >> how services as holding up and doing well has been a key part of china story. the problem is that there is less data available. ,ishaad: we got a story today one chinese province is in a recession, where as the others are growing as much as 10% to is -- as much asem 10%. is that a problem? >> until recently, it didn't matter all that much where you looked. these things were moving broadly along the same lines. two things have happened and nowadays we look differently at well-to-do service oriented provinces and those heavily affected by the slump in heavy industry. rishaad: it is the china rest belt, isn't it? -- rust belt, isn't it? a lot of money has been spent to keep the chinese economy going, fiscal stimulus, monetary stimulus, is there a time when you call it

we are seeing a little bit of australasian ahead of the chinese numbers.s well, although that has corrected and is looking pretty much flat at the moment. taking look at the japanese he seeingthe japanese yuan, greater losses down by about 2/10 of 1%, and the japanese yen, driving those gains in the tokyo market. we have got the summary of opinions from the bank of japan, showing very much a divergent set of opinions over the easy program and also the effects going forward, but it does seem to suggest, the bloomberg survey, that we will see further stimulus coming from the japanese central bank. it is up when it comes to this, about 3/10 of 1%, and that is really underpinning sentiment across the broader market. rish? pboc revealing fx reserves are little changed. this is ahead of the july trade balance numbers that are out a little bit later on today. hasing at the pboc, it earned more of its cash last month, certainly. that is rightd pew we are waiting to see what these come through on the terminal, as well. this is defending its and , andncy -- its curr

>>this is not just about a chinese festival parade this is about government interference. [indecipherable] chinese community influence over here and that is one reason they persecute us. government interference is a very big thing this is america. we don't want to fear of controlling people. >>[timer dings] >>thank you are there any other members of the public that would like to provide public comment at this time? seeing none, public comment is closed. >>[gavel] >> >>[gavel] >>okay, welcome back colleagues. i would like to make a motion to resend the vote for item number 53 and 54. we had some confusion with some folks from the public who came here to speak on those items andwere prevented from entering into the chambers, and i think it is important not only to rescind this vote but toextend this item for next week so colleagues can i please have this motion to rescind this item to next week so, without that vote is taken without objection and also without objection can we continue this item at 3 pm is a special item, and without objection that is adopted unanimously. mme

chinese tourists spent a lot on cosmetics and medicine.here is less demand for electronics since the quality of chinese-made products have improved. the singapore prime minister lee hsien loong has fallen briefly ill after delivering his address. he had been speaking for more than two hours when he abruptly stopped and had to be helped by medics. certainly some scary moments we saw during the speech. what happened? reporter: it was a scary moment. the prime minister lee hsien loong became unwell because of heat and dehydration. we have been told he was probably fatigued by his recently hectic schedule. the prolonged standing not helping. thankfully, it wasn't a stroke. his finance minister suffered a stroke in may during a cabinet meeting. the prime minister did return to the podium to finish his speech for another 15 minutes. he was in good spirits and even joked about the situation. >> i gave everybody a scare. [laughter] the last time i did this, i was -- i think square that is what happened. i've never had so many doctors look at me at

before over sold the chinese business to didi.et down with the ceo to ask if there were other markets that cannot be cracked. >> i would not ever say that. will get of that scale the quality of execution and it will be foolish to make a blanket statement. how muchchallenge is you do and this is a thing where it is reflective of the chinese situation. when you are a local player, this will give you an advantage with the scales of funding. m&a andve seen a lot of volkswagen is taking steps. apple is investing. how will this play out and will we see consolidation? know whatifficult to the end game is. player be surprised if a ends up through the market domination and winning the entire globe. is in india.eeing degree and you see the regional domination start to play out. end up merging or talking together, i am not sure. future, yout siebel see the dominant players taking shape. the for seeable future, you see the dominant players taking shape. you probably have four or five regional champions who can play gamegly and it is a scaled

and even on tuesday, two chinese ships were spotted in japan's territorial waters.here have been intrusions for three days in a row. prime minister shinzo abe has ordered relevant ministries to respond in a calm but resolute manner. japan has made protest for five days in a row with tuesday's being the first at ministerial level. >>> leaders in beijing are try og variety of tools to achieve sustainable growth. they got a reminder how great that challenge is. yuko fukushima joins us with more from the business desk with more on that. >> thanks, james. the chinese -- thanks, james. well, china analysts have released inflation figures for july. it suggests spending remains weak. the consumer price index increased by just 1.8%. here we go. 1.8% from the year earlier. that's down slightly from june's growth of 1.9% and well below the government's target of around 3% for the year. the index has been contracting for three months. officials at china's national bureau of statistics compiled the numbers. they say prices for mobile phones and appliances fell and growth in clot

what are we think the chinese responses going to be? quiteications are clear indications, quite a bit of a contrast, but the signaling is that the stimulus is coming through and will be on the fiscal front grade authorities have been reluctant to add to their benchmark interest rate reduction. sinceave been on hold october. they may have learned that relentless rate cutting does not the pboc hasso flagged it is reluctant to add stimulus, but it is making sure liquidity is flush, the fiscal support is really what will underpin demand, more and more investment spending. one of the breakdowns on the that headlineber, number masks a real deterioration and private investment. the government is stepping in. it is up 20% year on year, so that is where we are getting stimulus through in china at the moment. manus: thank you very much. breaking down all the numbers for us. let's bring in my guest host. a triptych of mrs., private investment lowest on record, concerning? >> absolutely. we have been talking about the slow down in china for years.

chinese, we love education and love our kids to succeed. i said i think that is a good idea but have one condition. they said, what is that because we didn't-you are the first chinese america mayor, can you come help announce the scholarships? i said i'm proud you are doing scholarships but also say as the first chinese american mayor i'm proud to do that and also proud if you open up the scholarships. they said, what do you mean. this is a time be agchinese american i can show we support all youth that need scholarships as well. if you were to open up that would be a big message to have other kids not just chinese kids be recipients of the scholarships and now we are in our 4th year where they opened up their scholarships. we have 10 non chinese coming in to be part of the overall scholarships they fund. the point being, our communities have the same values, we want the same levels of success for our kids but we are part of a larger community of san francisco and can help each other out. if we just open the doors of opportunity and i'm pro

more chinese investors will be coming here.increase volatility in the market here, so that's why it's good to have it. rishaad: thank you. is how at futures, this the hong kong hang seng looks now. there we go. seng, lookingg for that opening proper coming up, and futures given high. the nikkei to the upside by .50%. the yen around 100 at the moment. wellington, a quick snapshot of the session there. we do have apparently an after-hours story across the board. the aussie dollar a tad weaker at $.76. coming up, the secret zombie are that china's banks simply not allowed to see. we will have a look at that. a lot of banks would love to get hold of this list. they can't get it. it is not quite what i had in mind when talking about zombie companies, but i'll leave you with this beautiful images. ♪ ♪ rishaad: i look at our top stories, asian equities on the up, brent crude at $50, the retreating yen helping the topix rebound, signs in the u.s. and developed economies that they will keep on a terry policy lose. -- will keep monetary

three, chinese technology has become really good. companies make start phones as good as iphones about with features tailored to chinese taste like guessing your age from selfies and the ideas are being copied elsewhere like facebook turning it's chat app mention into another app. the superpowers, the tech prowess and government help has hardened china into an online economy where locals rule. china seems to big to ignore, but also too hard to crack for america's web powers. emily: shira of bloomberg gadfly. and rocketspace known for housing start-ups in its early days is putting $336 million into accelerators and tech campuses in china. still with me are david kirkpatrick and duncan logan, c.e.o. of rocket space. you guys provide space to companies like uber, spotify, in the early days, you give them mentoring, you help them network, but you don't take any equity in these companies. >> no. emily: you want to do it for chinese companies in china, is that right? >> yes. emily: tell me how the model works? >> it focuses on technology c

up, strategy for chinese ex-pats in europe.-mortar retailers in europe. ise to discuss the strategy betty liu. what is interesting is that jack ma and alibaba are not europe at all. betty: 120 million chinese tourists have gone abroad. that's an amazing number. matt: 120 million chinese left the country for a vacation. eddie: even more amazing is how much they are spending. think about how much you spend outside of food and lodging in air tickets, how much you really spend on goods and products. the chinese apparently spend up to $900 per trip when they go abroad. isould imagine that number for the -- the number for the ultraluxury chinese tourists would be way more than that. matt: as an average, that is a high number. betty: also considering how much the average chinese worker makes there. so it is a huge number. the chinese consumer domestically issues to paying and whenle payments they go abroad they don't have that option because the rest of the world is behind china. so the idea is to get retailers in europe equipped with

where do chinese banks fit into all that? even the top-tier chinese banks have some way to go.ade up a lot of room, but have catching up to do, even the bank of china, ranking only , butmber 24 outbound m&a in terms of the context of china banks and efforts to grow their footprint abroad, they are opening up more offices, even second-tier banks, in offices like london to provide services. china's corporate start increasing the -- are increasingly looking to chinese banks for financing. rishaad: right, let's tell you about what we have on the way. mcdonald's japan with its first courtly profit in more than he year. how much of that is down to pokemon go? ♪ ♪ rishaad: well, asian stocks falling from a one year high, japan leading losses, haven assets extend gains. mining in health care taking a hit, oil slipping, increase in u.s. stockpiles, dollar down for a second section, increasing the possibility the fed will raise interest rates in 2016, stocks below 50% there as well. bankshares dipping after record cash profits for a seventh consecutive year driven by higher earnings from

the chinese banks, deutsche bank, paribas.en, are you expecting to see further activity in this loan space? ll, i do not think we will see so many. so many companies are refusing leverage. we see borrowing increasing between individuals rather than institutionals. institutional,5% 35% retail. now we are seeing retail and market share is growing. mazen, do you expect saudi arabia to continue to liquidate, offload holdings in u.s. treasuries? to what extent is this politically motivated, perhaps? >> i do not think it is motivated for political reasons. they might liquidate more average oil prices. as you see, average is almost $40. the consensus is less than $50 for 2016. you might see some liquidation to front the shortage. relative toe some the gdp. it is almost 70% of gdp. yousef: we will leave it there. insightving us some from the latest numbers for saudi arabia. still to come, israel roars ahead. we look at what is fueling better than expected growth. this is bloomberg. ♪ haidi: breaking news. releasedcific has first half

the first is to follow the chinese consumer and go wherever they are going.y have users and they want to make sure that, wherever they go, they can get paid and the second part of the strategy is going local and requiring local brands working with them. they did a deal with a big indian payment platform. >> it is the conversation you just had with uber. one company is domestic and you need to adapt to whatever is happening. hiring somebody who is local is important. if they want to come to the united states, they need to hire people who understand the regulation and how consumers transact and how small businesses expect them to do the payments. cory: does that mean that they will make partnership deals and that that is more important than other kinds of investment? >> at that stage, they had visions for world domination. it is not to happen. we do look at vision and if the entrepreneur has the vision. if they add value, how do they bring it to a global market. normally, when you invest, it was an israeli company and we wanted to address the u.s. market and ho